HORETO MUSEUM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HORETO MUSEUM
Largest movements
- Receivables within one year +€568,290
up €568,290 (+70.7%), from €803,432 to €1.4m
of which Other amounts receivable: +€641,500
- Cash -€305,947
down €305,947 (-56.8%), from €538,602 to €232,655
mainly Receivables within one year (-€568,290) and Tax, wage and social debts (-€34,100)
- Profit (loss) carried forward +€178,358
up €178,358 (+15.0%), from €1.2m to €1.4m
- Accrued charges and deferred income +€130,880
up €130,880 (+147,803%), from €89 to €130,968
- Tax, wage and social debts -€34,100
down €34,100 (-69.1%), from €49,328 to €15,228
of which Remuneration and social security: -€19,623
- Gross operating margin -€50,732
down €50,732 (-14.1%), from €360,554 to €309,823
- Turnover -€39,474
down €39,474 (-6.8%), from €581,914 to €542,440
- Purchases and services +€14,258
up €14,258 (+6.4%), from €221,359 to €235,618
- Staff costs -€12,231
down €12,231 (-9.7%), from €126,510 to €114,279
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,342,431 | €1,604,782 | +€262,350 | +19.5% |
| Current assets | 29/58 | €1,342,431 | €1,604,782 | +€262,350 | +19.5% |
| Stocks and contracts in progress | 3 | €398 | €405 | +€7 | +1.8% |
| Stocks | 30/36 | €398 | €405 | +€7 | +1.8% |
| Amounts receivable within one year | 40/41 | €803,432 | €1,371,722 | +€568,290 | +70.7% |
| Trade receivables | 40 | €136,717 | €63,507 | -€73,210 | -53.5% |
| Other amounts receivable | 41 | €666,715 | €1,308,215 | +€641,500 | +96.2% |
| Cash at bank and in hand | 54/58 | €538,602 | €232,655 | -€305,947 | -56.8% |
| Total equity and liabilities | 10/49 | €1,342,431 | €1,604,782 | +€262,350 | +19.5% |
| Equity | 10/15 | €1,259,586 | €1,437,945 | +€178,358 | +14.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | - | -€70,000 | |
| Issued capital | 100 | €70,000 | - | -€70,000 | |
| Profit (loss) carried forward | 14 | €1,189,586 | €1,367,945 | +€178,358 | +15.0% |
| Amounts payable | 17/49 | €82,845 | €166,837 | +€83,992 | +101% |
| Amounts payable within one year | 42/48 | €82,757 | €35,869 | -€46,888 | -56.7% |
| Current portion of amounts payable after more than one year | 42 | €110 | - | -€110 | |
| Trade debts | 44 | €31,019 | €20,641 | -€10,377 | -33.5% |
| Suppliers | 440/4 | €28,019 | €20,641 | -€7,377 | -26.3% |
| Bills of exchange payable | 441 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €49,328 | €15,228 | -€34,100 | -69.1% |
| Taxes | 450/3 | €19,047 | €4,569 | -€14,478 | -76.0% |
| Remuneration and social security | 454/9 | €30,281 | €10,658 | -€19,623 | -64.8% |
| Other amounts payable | 47/48 | €2,300 | - | -€2,300 | |
| Accrued charges and deferred income | 492/3 | €89 | €130,968 | +€130,880 | +147,803% |
| Turnover | 70 | €581,914 | €542,440 | -€39,474 | -6.8% |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €221,359 | €235,618 | +€14,258 | +6.4% |
| Remuneration, social security and pensions | 62 | €126,510 | €114,279 | -€12,231 | -9.7% |
| Other operating charges | 640/8 | €1,175 | €1,959 | +€784 | +66.8% |
| Non-recurring operating charges | 66A | €4,277 | €10,401 | +€6,124 | +143% |
| Gross operating margin | 9900 | €360,554 | €309,823 | -€50,732 | -14.1% |
| Operating profit (loss) | 9901 | €228,593 | €183,184 | -€45,409 | -19.9% |
| Financial income | 75/76B | €3,300 | - | -€3,300 | |
| Recurring financial income | 75 | €3,300 | - | -€3,300 | |
| Financial charges | 65/66B | €6,968 | €4,826 | -€2,142 | -30.7% |
| Recurring financial charges | 65 | €6,968 | €4,826 | -€2,142 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €224,925 | €178,358 | -€46,566 | -20.7% |
| Profit (loss) for the period | 9904 | €224,925 | €178,358 | -€46,566 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €224,925 | €178,358 | -€46,566 | -20.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.